REPUBLIC OF CAMEROON PEACE-WORK-FATHERLAND MINISTRY OF FINANCE SECRETARIAT GENERAL DIRECTORATE GENERAL OF THE TREASURY MONETARY AND FINANCIAL COOPERATION MICROFINANCE DIVISION PROMOTION, REGULATIONS, AND MONITORING UNIT REPUBLIQUE DU CAMEROUN PADI-TRAVAIL-PATRIE MINISTERE DES FINANCES SECRETARIAT GENERAL DIRECTION GENERALE DU TRESOR, DE LA COOPERATION FINANCIERE ET MONETAIRE DIVISION DE LA MICROFINANCE CELLULE DE LA PROMOTION ET DE L'ENCADREMENT
# CALL FOR APPLICATIONS OF FINANCIAL EXPERTS N°/AC/0-02-09 MINFI/SG/DGTMFC/MD/2025 OF 17 AVR 2025
RELATING TO THE CONSTITUTION AND HOLDING AT THE MINISTRY OF FINANCE OF A LIST OF POTENTIALASSIGNABLE REPRESENTATIVES OF MICROFINANCE INSTITUTIONS IN DIFFICULTY
I. CONTEXT AND JUSTIFICATION
The economic and monetary community of Central Africa CEMAC, in its permanent quest for the stabilisation of the financial sector, has set up a regulatory corpus which contributes to the supervision and monitoring of microfinance institutions in difficulty.
Indeed, Regulation N° 01/17/CEMAC/UMAC/COBAC of 27 September 2017, relating to the conditions of exercise and control of the activity of Microfinance in the CEMAC zone in its articles 92 and 93 indicates respectively that the treatment of Microfinance institutions of the second and third categories in difficulty, is carried out in accordance with the provisions of Regulation N° 02/14/CEMAC/UMAC/COBAC/C of 25 April 2014, relating to the treatment of credit institutions in difficulty in the CEMAC, as well as the treatment of MFI of 1st category in difficulty.
Specific provisions for the liquidation of first category MFI with total deposits of less than FCFA 1 billion, known as ‘simplified liquidation’, are set out in COBAC Regulation MFI 2018/01/ of 16 January 2018, relating to the liquidation of small first category microfinance institutions.
In addition, COBAC Regulation R-2020/02 of 15 April 2025, sets out the procedure for the appointment and remuneration of provisional administrators and liquidators by COBAC.
The project to draw up a list of financial experts, potential agents for the management of microfinance institutions in difficulty, is part of the application of the aforementioned regulatory provisions and the implementation of measures to promote and reorganise the sector. This project aims to contribute to the supervision and monitoring of microfinance institutions in difficulty, in accordance with the relevant statutory and regulatory provisions.
Moreover, according to Article 29 of the Regulations relating to the treatment of credit institutions in difficulty, applicable to MFIs, the Provisional Administrator of an MFI is appointed by COBAC from a list drawn up by the National Monetary Authority or, failing that, on its own initiative.
COBAC decides to place a MFI under provisional administration at the request of the company's management or the Monetary Authority, and appoints an ad hoc manager as provisional administrator.
Pursuant to Article 99 of the same regulation, COBAC may appoint a bank liquidator to institutions whose licence has been withdrawn and to companies that are operating without a licence. The bank liquidator is appointed by COBAC from a list drawn up by the National Monetary Authority or, failing that, on its own initiative.